EcoSys� for Power Utilities

Issue link:

Contents of this Issue


Page 0 of 1

Solution Sheet EcoSys ™ for Power Utilities The Power Utilities Industry has been engaged in a period of change for several years. There are obvious opportunities available, as energy demand is expected to grow by up to 70% over the next twenty years. However, the power industry has a less than impressive track record of project delivery. On average, projects are delivered two years behind schedule and $2bn (35%) over budget. The future Power Utilities marketplace will be increasingly competitive and complex, with smaller margins for error. Project and cost overruns of this magnitude will be completely unsustainable. Maintaining profitability and market share will be heavily impacted by project performance. The current mix of commercial software, spreadsheets and in-house developed systems are contributing to inefficiency and poor performance. The solution is an Enterprise Project Performance (EPP) approach with EcoSys. EcoSys creates a simplified portfolio and project management ecosystem that aligns strategic vision, capital priorities and project execution. EcoSys Creates the Single Source of Truth Project Portfolio Management With limited resources and a high volume of projects, selecting the right mix of projects to meet regulatory and client needs is more critical than ever: • Create, organize and manage portfolios in alignment with company strategy • Define evaluation criteria, then score and select projects to add to portfolios • Optimize portfolios by ensuring resources are delivering maximum value and impacting goals and objectives Capital Budgeting and Planning With the growing energy demand and need to decarbonize, the power industry must be more agile than ever before. Ensure that CAPEX projects are planned and funded with accuracy and confidence. Create unlimited budget versions and develop multi-year capital plans. • Improve efficiency with an integrated budget lifecycle from estimates to baseline budgets to rolling forecasts on every project • Develop detailed cashflows with integrated cost and schedule • Manage and control changes and contingency utilization • Accurately predict outcomes with standard project forecasting methods based on industry best practices Project and Contract Planning & Controls The financial impact of cost and schedule overruns can be enormous for the Power industry. Plan effectively and take corrective action early and ensure that the most complex CAPEX projects are executed on time and within budget.

Articles in this issue

view archives of Brochures - EcoSys� for Power Utilities